Wine import value South Korea 2013-2023
In 2023, the value of wine imported to South Korea amounted to around 506.2 million U.S. dollars, up from roughly 172 million dollars in 2013. The largest inrease was recorded in 2021 as the import value jumped from around 330 million dollars to approximately 560 million dollars.
Main countries of origin
That year, most of the wine was imported from France. Most of these imports from France were accounted for by red wine in bottles. France has a reputation for producing high quality wine and is well positioned in the market. Nevertheless, when it comes to volume, Spain was the main country of origin for wine. Chilean wine has risen after the Korea-Chile Free Trade Agreement and has a reputation for being good value.
Rising wine market
The wine market is still in its early stages but is expected to develop further, as red wine gains the reputation to be healthier than other alcoholic beverages. In South Korea, most wine sold is imported and the domestic market mostly consists of traditional rice wine. The driving force behind the South Korean wine market are young, especially female, consumers, who prefer grape wine rather than traditional rice wines, which are considered outdated. The retail value sales of wine in 2022 amounted to around 2.6 billion U.S. dollars and was expected to grow to 5.54 billion U.S. dollars until 2027.
Main countries of origin
That year, most of the wine was imported from France. Most of these imports from France were accounted for by red wine in bottles. France has a reputation for producing high quality wine and is well positioned in the market. Nevertheless, when it comes to volume, Spain was the main country of origin for wine. Chilean wine has risen after the Korea-Chile Free Trade Agreement and has a reputation for being good value.
Rising wine market
The wine market is still in its early stages but is expected to develop further, as red wine gains the reputation to be healthier than other alcoholic beverages. In South Korea, most wine sold is imported and the domestic market mostly consists of traditional rice wine. The driving force behind the South Korean wine market are young, especially female, consumers, who prefer grape wine rather than traditional rice wines, which are considered outdated. The retail value sales of wine in 2022 amounted to around 2.6 billion U.S. dollars and was expected to grow to 5.54 billion U.S. dollars until 2027.
